Goldman Sachs Downgrades RadioShack (RSH) to Neutral, Removes from Conviction Buy List

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October 26, 2011 7:56 AM EDT
Get Alerts RSH Hot Sheet
Price: $0.24 --0%

Rating Summary:
    0 Buy, 9 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 12 | Down: 23 | New: 22
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Goldman Sachs downgraded RadioShack Corp. (NYSE: RSH) from Buy to Neutral and removed the stock from its Conviction Buy List.

The firm notes the soft Q3 results and outlook have reduced visibility and the margin erosion raises big picture questions.

Goldman reduced its 4Q forecast to $0.41 from $0.61, 2011 to $1.22 from
$1.58, 2012 to $1.52 from $2.02, and 2013 to $1.72 from $2.25. The firm cut its price target from $16 to $13.50.

For more ratings news on RadioShack Corp. click here and for the rating history of RadioShack Corp. click here.

Shares of RadioShack Corp. closed at $13.31 yesterday.

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Downgrades, Hot Downgrades

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Goldman Sachs Conviction Buy List, Goldman Sachs